With Terry Story, 25-year Veteran Real Estate Agent with Coldwell Banker in Boca Raton, FL
Housing stocks have plummeted in the Mid-West, primarily due to severe weather in many parts of the country – but this effect is likely temporary and should go away as the weather thaws, literally allowing ground breaking for new construction. In addition, guided by Fannie Mae and Freddie Mac, buying a house today is way easier on your wallet than a few years ago. Interestingly, rentals in some places are now 20% higher than mortgage payments, specially in the low-income sector. Contrast that to 2006, when mortgages were 76% more expensive than rentals – so the housing market really goes through cycles of self-correction. So tune-in to find out what all this means for the housing market.